Once a debt is sold......

[marcuscan]

I just hung up w/Cap 1 & they sold my debt to North Star Acquisitions apparently.  I asked if it could be brought back and she said "No".....which I pretty much already assumed. 

Well now that I know I will have to deal w/the CA rather than the OC I am wondering if it's possible to have Cap 1 remove the adverse account with a GW once the account is PIF at the CA.  Thoughts?

I royally screwed up (NWM just enlightened me) by making a pmt to the new CA as part of an installment pay back plan.  I dread paying them back in full just to have it sit on my CRB as a "paid collection" but per my new insight i've restarted the SOL.  How can I make the best of this bad situation?

help

Balance: 

$1,041  

Date Updated: 

06/2008  

Original Balance: 

$1,113 

Original Creditor: 

08 CAPITAL ONE BANK USA NA 

Past Due: 

>$1,041< 

Pay Status: 

>Collection Account<  

Account Type: 

Open Account  

Responsibility: 

Individual Account  

Loan Type: Collection Agency Attorney

Remark: 

>Placed for collection<

Date placed for collection: [ 03/2008] 

Estimated date that this item will be removed:   10/2011

mc

[Anonymous]

NO...Capital One...IS NOT going to delete...there are TONS of stories on her with people...who have had NO success with them...maybe you would have had more success...before it was sold...but since the debt was SOLD...the balance must show $0...are the CA on your reports too???...if not...try to settle something with them...before they report...or stick with the repayment plan...and see if they will delete...when payment is made in full...

[cobra19]

Once the account is paid - either in full or with a settlement amount - the CA will send you a letter stating it has been settled. I would send a copy of that letter to all 3 CRA and demand they delete the account completely, both the original creditor and the collection agency. If that fails, I'd go the GW route.

This seems to work with TU better than with the other two.

[marcuscan]

---

slyhouse08 wrote:
NO...Capital One...IS NOT going to delete...there are TONS of stories on her with people...who have had NO success with them...maybe you would have had more success...before it was sold...but since the debt was SOLD...the balance must show $0...are the CA on your reports too???...if not...try to settle something with them...before they report...or stick with the repayment plan...and see if they will delete...when payment is made in full...

---

Sly, here's what the Cap One TL states per TU:

CAPITAL ONE BANK USA NA

POB 30281
SALT LAKE CITY , UT 84130-0281
(800) 955-7070 

Balance: 

$0  

Date Updated: 

05/2008  

High Balance: 

$597 

Credit Limit: 

$250 

Past Due: 

$0 

Pay Status: 

>Charged Off as Bad Debt<  

Account Type: 

Revolving Account  

Responsibility: 

Individual Account  

Date Opened: 

02/2003 

Date Closed: 

12/2004 

Loan Type: Credit Card

Remark: 

Purchased by another lender

Estimated date that this item will be removed:   03/2011

The previously posted TL was the one from the CA.  What i really hate is that the CL was a mere $250, now the CA is saying I gotta pay $1000.  I don't know that there is any thing I can do here.

Thoughts?

mc

[Anonymous]

It appears DOFD is sometime in 2004, what is DOLA?

What is your SOL? Is this account within or out of SOL?

[marcuscan]

---

sidewinder wrote:

It appears DOFD is sometime in 2004, what is DOLA?

What is your SOL? Is this account within or out of SOL?

---

the account is definitely w/in SOL....7 yrs in OH.  I don't have access to my other CRs to check on DOLA.

mc

[Anonymous]

The Capital One TL is correct...except for the different drop off dates...both should be the same...are you on a payment plan with the CA???...

[marcuscan]

i started that  process.  i thought it was a good move until today i saw NWM make the argument that it was a bad way to go.  He stated it would kill my opportunity for a PFD one day.

mc